Ionis Pharmaceuticals, Inc. (IONS) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) in a research note issued to investors on Sunday morning. They currently have a $64.00 price objective on the stock.

IONS has been the subject of several other reports. Jefferies Group LLC reiterated an underperform rating and set a $18.00 price objective (up from $17.00) on shares of Ionis Pharmaceuticals in a research note on Thursday, August 10th. Laidlaw reiterated a buy rating and set a $65.00 price objective on shares of Ionis Pharmaceuticals in a research note on Monday, August 14th. Sanford C. Bernstein assumed coverage on shares of Ionis Pharmaceuticals in a research note on Thursday, July 27th. They set a market perform rating and a $57.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of Ionis Pharmaceuticals from $67.00 to $69.00 and gave the stock an outperform rating in a research note on Monday, August 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Ionis Pharmaceuticals from $42.00 to $50.00 and gave the stock a hold rating in a research note on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Ionis Pharmaceuticals has a consensus rating of Hold and a consensus target price of $49.31.

Shares of Ionis Pharmaceuticals (NASDAQ:IONS) opened at 53.88 on Friday. Ionis Pharmaceuticals has a 52 week low of $24.58 and a 52 week high of $60.01. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 259.04 and a beta of 3.13. The firm’s 50-day moving average is $51.73 and its 200-day moving average is $48.15.

Ionis Pharmaceuticals (NASDAQ:IONS) last announced its earnings results on Tuesday, August 8th. The company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The firm had revenue of $104.15 million during the quarter, compared to analyst estimates of $93.29 million. Ionis Pharmaceuticals had a net margin of 5.25% and a return on equity of 15.52%. Ionis Pharmaceuticals’s revenue was up 170.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.47) earnings per share. Analysts forecast that Ionis Pharmaceuticals will post ($0.17) earnings per share for the current fiscal year.

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In other Ionis Pharmaceuticals news, SVP C Frank Bennett sold 10,000 shares of Ionis Pharmaceuticals stock in a transaction on Monday, July 24th. The shares were sold at an average price of $59.29, for a total value of $592,900.00. Following the completion of the transaction, the senior vice president now owns 25,041 shares of the company’s stock, valued at $1,484,680.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Patrick R. O’neil sold 1,000 shares of Ionis Pharmaceuticals stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $55.00, for a total transaction of $55,000.00. Following the completion of the transaction, the senior vice president now directly owns 10,633 shares of the company’s stock, valued at approximately $584,815. The disclosure for this sale can be found here. Insiders sold 55,309 shares of company stock valued at $2,997,692 in the last ninety days. 1.86% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hanseatic Management Services Inc. increased its holdings in Ionis Pharmaceuticals by 1.2% in the second quarter. Hanseatic Management Services Inc. now owns 3,481 shares of the company’s stock valued at $177,000 after buying an additional 41 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Ionis Pharmaceuticals by 0.4% in the second quarter. Teacher Retirement System of Texas now owns 9,673 shares of the company’s stock valued at $492,000 after buying an additional 43 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Ionis Pharmaceuticals by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 24,390 shares of the company’s stock valued at $1,241,000 after buying an additional 65 shares in the last quarter. Utah Retirement Systems increased its holdings in Ionis Pharmaceuticals by 0.5% in the first quarter. Utah Retirement Systems now owns 22,000 shares of the company’s stock valued at $884,000 after buying an additional 100 shares in the last quarter. Finally, World Asset Management Inc increased its holdings in Ionis Pharmaceuticals by 3.4% in the second quarter. World Asset Management Inc now owns 5,614 shares of the company’s stock valued at $286,000 after buying an additional 187 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company’s segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners.

Analyst Recommendations for Ionis Pharmaceuticals (NASDAQ:IONS)

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